Arthakranti Proposal

  1. Withdrawal of existing Taxation System completely (except customs i.e. import duties).

    2.

  2. Every Transaction routed through a bank will attract certain deduction in appropriate percentage as Transaction Tax i.e. Single point tax deducted at source. (say 2 %).

    1. This deduction is to be effected on receiving/credit accounts only.
    2. This deducted amount will be credited to different Government levels like Central, State and Local (say 0.7%, 0.6%, 0.35% respectively).
    3. Transacting Bank will also have its share in this amount as the bank has a key role to perform (say 0.35%).

  3. Withdrawal of High denomination currency (say above Rs. 50).

  4. Cash transactions will not attract any transaction tax.

  5. Government should make legal provisions to restrict cash transactions up to a certain limit (say Rs. 2000).

    6.